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fiscal cliff. our guest is republican representative tom cole of oklahoma, a member of the appropriations and budget committee. also joined by georgetown university tax law professor john buckley on how the alternative minimum tax is affecting fiscal negotiations. "washington journal" is next. ♪ ♪ host: 25 days to go before the united states faces the fiscal cliff, the white house has rejected a proposal from house republicans to prevent tax hikes and spending cuts at the end of the year. no formal talks between the two sides are scheduled today. will go outside the nation's capital to get your voice involved. republicans -- democrats -- independents -- send us a tweet, post your comments on facebook, or send us an e-mail. we begin with some of the papers across the country today and how this latest proposal from house republicans is playing out in the papers. courtesy of "the atlantic journal-constitution" -- here is "the denver post" -- finally, here is "of the arizona republic" -- here is "t
fiscal cliff. our guest is republican representative tom cole of oklahoma, a member of the appropriations and budget committee. also joined by georgetown university tax law professor john buckley on how the alternative minimum tax is affecting fiscal negotiations. "washington journal" is next. ♪ ♪ host: 25 days to go before the united states faces the fiscal cliff, the white house has rejected a proposal from house republicans to prevent tax hikes and spending cuts at the end of...
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Dec 4, 2012
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yarmuth: when it comes to the fiscal cliff, republicans and democrats have one major thing in common, we both believe tax rates shouldn't go up for 98% of americans and 97% of small businesses. the difference is the democrats won't use them as bargaining chips. we have filed a discharge petition to bring to the floor legislation that preserves tax cuts for 98% of americans and 97% of small businesses. it has already passed the senate. the president has said he will sign it immediately. less than a month away the clock is ticking, and if house republican leadership is wondering when in our pressing schedule we might fully consider 24 legislation, they might rethink their astonishing decision to cancel house business on thursday, one of the few days congress has left in the current session. mr. speaker, we know what we must do and it might come as a surprise we agree on a solution. all that's left is to vote. i urge my colleagues to sign the discharge petition and vote immediately to keep middle class tax rates from going up. i yield back. soy much -- the speaker pro tempore: the gentle
yarmuth: when it comes to the fiscal cliff, republicans and democrats have one major thing in common, we both believe tax rates shouldn't go up for 98% of americans and 97% of small businesses. the difference is the democrats won't use them as bargaining chips. we have filed a discharge petition to bring to the floor legislation that preserves tax cuts for 98% of americans and 97% of small businesses. it has already passed the senate. the president has said he will sign it immediately. less...
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so if there is a fiscal cliff and we go over it, the american public are likely to blame the republicans. >> well, that's absolutely true, piers. we've had an election and the clearest debate and the clearest difference in that election was over the question of whether the rich should pay more and tax rates should go up on the rich. everybody who paid any attention at all knows that the top 2% are now taking home a larger share of total income and wealth in this country than they have in over 80 years and are paying the lowest effective tax rate they paid in over a half a century. we also have a looming budget deficit. so you don't have to really be a rocket scientist to understand that the rich do have to pay more. taxes do have to be raised on the rich and i think that's why over 60% of the public in these polls are not only supportive of a tax increase on the rich, but also will blame the republicans if we go over the fiscal cliff. and this gives frankly, this gives the white house and this gives the obama administration much more bargaining leverage. >> grover norquist, here's the pr
so if there is a fiscal cliff and we go over it, the american public are likely to blame the republicans. >> well, that's absolutely true, piers. we've had an election and the clearest debate and the clearest difference in that election was over the question of whether the rich should pay more and tax rates should go up on the rich. everybody who paid any attention at all knows that the top 2% are now taking home a larger share of total income and wealth in this country than they have in...
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Dec 4, 2012
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president, it's been almost three weeks since we all met with the president to avert that fiscal cliff that we hear so much about. yesterday, after weeks of delay, and as the days dwindle and taxes are set to go up for millions of families and businesses, republicans in the house finally showed up at the negotiating table. and now we know why they've been holding their cards so close it their vest. their proposal would raise taxes on millions of middle-class families. their plan to raise $800 billion in revenue by eliminating popular tax deductions and credits would reach deep into pockets of middle-class families. republicans are so intent on protecting low tax rates for millionaires and billionaires, they're willing to sacrifice middle-class families' economic security to do so. at the first of the year, middle-class families, will get an average of $200 i,200 in additional taxes they'll have to pay. their proposal was short on specifics but we do know from independent analysis that it is impossible to raise enough revenue and make a dent in our deficit without using one of two thing
president, it's been almost three weeks since we all met with the president to avert that fiscal cliff that we hear so much about. yesterday, after weeks of delay, and as the days dwindle and taxes are set to go up for millions of families and businesses, republicans in the house finally showed up at the negotiating table. and now we know why they've been holding their cards so close it their vest. their proposal would raise taxes on millions of middle-class families. their plan to raise $800...
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. >>> and amid tough negotiations to avoid going over the so-called fiscal cliff. president obama meets with bipartisan groups of governors about the problem today. the meeting a day after house speaker jonathan boehner laid a republican plan to solve the crisis on the table and calls for $800 billion in higher taxes revenue and does not increase taxes on wealthy americans. the white house is rejecting the offer, saying any deal must include an end to tax cuts for families making over $250,000. >>> and the senate has approved a new u.s. commander for the war in afghanistan. he's marine corporal general joseph doneford and replaces general john al llen, nominatedo head forces in europe. allen's nomination on hold because of his involvement in the sex scandal that brought down former cia director david petraeus. >>> in foreign news, new intelligence reports, indicate syria's government may be preparing to use chemical and biological weapons against the rebels. in response though, the u.s. and its allies are considering military options. here's abc's martha raddatz. >
. >>> and amid tough negotiations to avoid going over the so-called fiscal cliff. president obama meets with bipartisan groups of governors about the problem today. the meeting a day after house speaker jonathan boehner laid a republican plan to solve the crisis on the table and calls for $800 billion in higher taxes revenue and does not increase taxes on wealthy americans. the white house is rejecting the offer, saying any deal must include an end to tax cuts for families making over...